The Indian equity indices slumped from the record highs on Wednesday afternoon.
The BSE Sensex declined over 500 points to fall below the psychological mark of 44,000 and the Nifty50 dropped below 13,000.
The across-the-board selling was led by banking, finance, IT, telecom and capital goods stocks.
Around 2.40 p.m., Sensex was at 43,948.26, lower by 574.76 points or 1.29 per cent from the previous close of 44,523.02.
Earlier in the day it had touched an all-time high of 44,825.37 points. It had opened at 44,749.73 and has so far touched an intra-day low of 43,845.86 points.
The Nifty50 on the National Stock Exchange was had hit an all-time high of 13,145.85, is currently trading at 12,900.40, lower by 154.75 points or 1.19 per cent from its previous close.